The main difference between now and the 30's depression era, is that central banks are willing and able to reliquify the monetary base on a massive scale now. They couldn't do it then.
The second difference in the US is that in the 30's, wage cuts were opposed by the administration, which put further pressure on business which served to prolong the depression.
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- this is 1929 repeating
this is 1929 repeating, page-26
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